Coal exports from Gladstone spike at 176%
IN what may be a good sign Gladstone Ports Corporation shipped 415,000 metric tonnes of coal exports to China last month, spiking 176% from February's loads.
However China's offtake of coal exports at Gladstone port last month was less than half of what it shipped this time last year.
Between January and March this year China took delivery of 1.13 million mt of Gladstone coal shipments, which is down 56.5% from last year.
India's offtake of coal exports at Gladstone port rose 10% in March to 1.18 million mt.
A total of 3.6 million mt of coal exports was shipped to India in the first three months of the year, which is up from 2.8 million mt in 2015.